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rentalnewyorkcity.com

SCHEDULE OF PROPERTY MANAGEMENT SERVICES
 

  1. Rental Advertising - Rentalindy Property Management will advertise any unit that becomes vacant during the term of management. Web advertising costs: $9.95 a month until rented, this can also include the local newspapers. A sign may be displayed in front of the building.
  2. Tenant Qualification - Prior to showings, tenants are prequalified and an appointment is made. All applications are completely verified and a credit check is made.
  3. Security Deposit - Security deposits will be forwarded.
  4. Rent Collection - Rent is collected on the first of each month. A late fee is assessed after the fifth of the month.
  5. Property Inspection - When a unit is signed on a one-year lease, at least one semi-annual interior inspection will be made. Exterior drive-byes are more frequent.
  6. Maintenance - By licensed, bonded professional- at reasonable rates. Get quotes and pick the most affordable, approval from landlord, let professional in and out: cost of repairs plus $20 extra for property management for each visit.
  7. Payments - Any payments related to the property, i.e. mortgage, taxes, insurance, etc. in accordance with owner's instructions.
  8. Cleaning and Painting - Cleaning/Painting to ready for showing: $15/hour until cleaned/painted or $100 a day.

SCHEDULE OF PROPERTY MANAGEMENT FEES

  1. One-time set up fee, (adding to schedule, bookkeeping, inspection of property and care).
    For single family homes the fee is $45.00.
    For 2-6 unit buildings the fee is $65.00.
    For 7-15 unit buildings the fee is $85.00.
    Anything larger is negotiable.
  2. Leasing Commission - Includes taking calls/emails, making appointments, showing rental, keeping up property for showings, making application, taking applications, screening for good tenants (references etc.), calling landlord to get approvals): One half of the first months rent.
  3. Actual advertising costs.
  4. Monthly Management - Taking calls when problems arise, inspections (inside and out) as requested or needed by landlord or tenants, drive by weekly to make sure property is in good shape, mowing, landscaping, general upkeep: 9% of month's rent each month, all year.

If you would like further information on any of these services please contact us info@rentalnewyorkcity.com

Our Leasing Process

Our first step in renting a property is advertising its availability. We provide yard signs that attract interest from drive-by traffic. We also advertise on rentalnewyorkcity.com , the Indianapolis Star, and the local paper where the property is located. We receive many referrals and unsolicited inquiries because of our  presence in the community.

Screening of each prospective tenant is of primary importance. After we show the property to an interested party, an application for tenancy is completed. Processing the application includes verifying employment, talking to at least the past two landlords, and obtaining a credit report. Normally applicants with poor credit ratings, collection amounts, public records or poor tenancy history are not accepted as tenants.

After establishing an acceptable credit history and verifications, a lease agreement is executed. Leases are normally written for one year and the first months rent is collected along with a security, damage, and cleaning deposit in an amount equal to the rent. Usually, we do not require last month's rent. In cases where an owner has allowed a pet on the premises, a pet deposit is also collected and the tenant signs a pet agreement.

The lease agreement specifies the tenant's responsibilities during the term of the lease and upon vacating the premises. A move in/move out report is completed by the tenant and management at the onset of each lease. This report becomes part of the lease and is used to compare the condition of the unit at the time of vacation.

Vacating the premises prior to the termination date of the lease results in the forfeiture of the tenant's entire deposit to the owner. In addition, the tenant is also charged for any cleaning or repair costs that may be required to return the unit to the same condition as at the time of possession. Tenant is charged at owners discretion until property is leased.

Rents are paid to Rentalindy Property Management. They are due on or before the first day of each month. If not received by the fifth day, the tenant is assessed a late fee of $50.00. The monies are disbursed to the owner each month after expenses are deducted. Mortgage payments, homeowner's dues, taxes and insurance may be paid of the owner desires. Maintenance and repairs are taken care of promptly. In the event of a major repair, the owner is contacted prior to the contracting of the work.

Utility bills, such as electric or gas are billed directly to the tenant.

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